WHITEHOUSE, N.J., Oct. 14, 2003 (PRIMEZONE) -- AAMPRO GROUP, Inc. (OTCBB:AAPO), an Employee Leasing, HR Outsourcing Services and Payroll Company announced that its subsidiary AAMPRO Financial, LLC acquired a 10% stake in SK Realty Ventures, Inc. The acquisition closed in September and provides AAMPRO Financial with an entry into the distressed real estate arena. Furthermore, AAMPRO acquired the stake to provide additional shareholder value. In addition, AAMPRO is planning to market its PEO and HR Outsourcing services through this new nationwide distribution channel as SK Realty is active in numerous states across the country.
AAMPRO CEO Stephen Farkas commented, "AAMPRO is innovating in its organic business growth through the acquisition of a diversified portfolio of companies that can open new sales channels and vertical markets." Farkas stated further, "I expect that we will be concluding and announcing several additional acquisitions and investments in the near future."
About AAMPRO:
The Company, through its subsidiary AAMPRO, Inc. ("AAMPRO"), primarily conducts its business operations as a professional employer organization ("PEO"). AAMPRO provides a broad range of services comprised primarily of employee leasing and human resources management. These services include payroll and benefits administration, health and workers' compensation insurance programs, state and federal labor compliance, tax filings, safety program design and management and other related services to small and medium-sized businesses nationally with a primary concentration in the tri-state (New York/New Jersey/Pennsylvania) region. AAMPRO was organized as a corporation in 1995 and has provided PEO services since inception. Additionally, AAMPRO operates AAMPRO-PAY, a payroll services company and AAMPRO Financial, LLC, a financial advisory and consulting firm.
AAMPRO's services are designed to improve the productivity and profitability of small and medium-sized businesses by relieving business owners and key executives of many employer-related administrative and regulatory burdens that enable them to focus on the core competencies of their businesses.
About SK Realty Ventures, Inc.:
SK Realty Ventures, Inc. is primarily engaged in the purchase and sale of Tax Liens, Tax Deeds and Foreclosed Property. The company is based in New York but is not limited to any one jurisdiction for purchases. The company tends to focus on states that provide for the highest statutory interest rates. Management of SK Realty has embraced a risk adverse yield based business agenda, which provides for efficient investing for both short and long-term objectives.
Forward-Looking Statements
This news release contains forward-looking statements about our business, or financial condition and prospects that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this news release, words such as "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions. All forward-looking statements are intended to be covered by the safe harbor created by Section 21E of the Securities Exchange Act of 1934.